REGISTERED CHAIUTY NUMBER: 1067952 Report of the Trn$¢ee$ and Uniudlted FlnAnd81 Statements for the YeAr Ended 31 August 2024 for Venvood Mus¢um Trust Ward Goodman Audit Services Ltd 4 Cedar Park Ferndown Industrial Estate Wimborne BH217SF
Venvo&d Museum Trust Contents ofthe Flninelal Statsments for the Y¢8r Ended 31 August 1024 Page R¢port of Ihe Trustees Indtpend¢nt ExamlneVs Report Statemenl of Fln*nelAI Aerfvltles BAlance Sheet Noleg to the FIDAncJ41 StAtements 7 to 12
Verwood Museum Trust Report of the Trnstees for the Year Ended 31 August 2024 Tl)e Iruslees present Iheir report with the financial slalements of thc charity for the year ended 31 August 2024. The tTUSle¢s have adopled the provisions of Accounting and Reporting by Charilie5', Slatevnent of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Rep)rtin8 Standard applicable in the UK and Republic of Ire1id (FRS 102) (efte¢live l Jwiuary 2019). 01vEs AND ACTIVITIES Objeetlves and alms Thc charity was created by a Deed of Trust daled 9th Seplember 1997, Its primury iknj¢c15 ar¢ "to cncouragc and promote knowledge of archaeology. ethnology, history, natural history and kindred l¢fiCe$ and pointing and arts and crafis especially in relation to th¢ Parish of V¢rw(M)d, The Dislrid of East Dorset and the County of Dorset" This it docs for the benefil of the residents of Venvood, ihe surroundin8 aa aTKI visi10 lo the town. During ih¢ course of the year the charity has continued io run it's museum al Ihe Verwood Heriia¥e Centr¢, siaging a series of displays infomiin8 locAI residents and visito ora variety of as15 of the pas1 life of a vtllhge which became a town. As ¢v¢r there is a focus on Ibe unique of the pottery eottage industry in Verwood. il bcing of n81ional importance. The Herits¥¢ C¢nlr¢ was the sile of the last pottery of ils type in the county when il closed in the early 1950s aft¢r almost 800 years of production in the affa by the same traditional means. In addition thc Centre provide5 historical SOurceS from ils archive for ihe b¢n¢fit of the community and community racililics utilised by many local organisations and individuals. See below for strate8y and aims: Mode$1 local granls have been sought lo supplement fundrnising bul major grnnl applications will follow a reslruclure. Th¢ orxanisalion is well supported by volunteers 91 all levels. including mana8emenl, dh1VIn& catering, cleaning and r¢pairs ACHIEVEMENT AND PERFORMANCE Ch*rllable a¢llvltle5 The charity has succecded in coTrlinuing lo promote knowled8e of the history of Venvood, providinB community f8¢iliti related lo lh¢ objec18 and pursu¢d fundraising opportuniliK. The ch•rity remains in a period of irnnsilion due lo the impacl of covid and the rt that the founding Thistees have either passed iway or reached an age at whi¢h they can no longer drive ihe eharity forward. Steps are being tsken to improvc perf0Mnce. The colle¢tion and archive is being reviewed and ralionalised following advice fTorn the Museum of East Dorsel. the displays are bein8 updaied. engagemcrtt with schools is bein8 renewed. Despite these difficulties aclivitie5 have continued, albeit now directed at improvin8 future perfonnance as well as day lo day running. including th¢ following: - Making chan8es lo the cafeteria management, menu and dewr. - Running fundraisin8 raffles. Holding a public meeting to consuli with museum users and supporters. Forging links wilh the Museum of East DO¢1 and seeking their guidance upon assessing our ¢olleclion. - Joining the South Wesl Museum Advisory Servi¢e and 5eekin¥ Ih¢ir input. - Commencing a draft 5 yenr pian See slratebry and aims. Risks which mighi pvent achievement and inhibit perfornnCe include any recwTenc¢ of Covid or a Covid type pandemic. significant siructural failings in the historic pYemi5cs or a loss of support from the community. all of whi¢h would appear to be relatively low risk at preseni. Pag¢ I
Venvood Museum Trust Report of the Tru$tees for the Year Ended 31 Augu8t 2024 FINANCIAI. REVIEW FlnaA¢iAI posiilo The charity held £105,205 in cash thnds al year end. This comprises a reserve equivalent to 6 months tradin8 lo cover the cost of closure in the event of catastrophic failure. Liabilities in respect of staff redundancy and long tenn contract l¢nnination arc ncgligiblc the iEserve is more than adequate for the putpose. The balance of the cash reserve 18 intended lo providc a major maintcnancc and refurbishment fund. The Heritage Centre has undergone signifscant Tcpair to th¢ and cob walls and is well maintained but it is an historic building of no little as pnmarily of cob ¢onsLruelion and long tern] renewal 8nd i'cnovalion will prove a COlY exeirise. Thus a larse cgsh reserve is maintained lo cover this eventuality. Golng eoncern The TNslees are satisfied that the charity is a going concem and will remairt so for the nexi 12 Inonihs. There are sufficient cash reserves to meet any liabilitie5 during Ihal pcriod cvcn were Ihe charity to r¢¢civc no furthw income. In i'eality cash receipts are Nnning al approximvélely £4000 per month and risin& wlth no indication of Any likely reversal of that trend. Caf¢t¢ria incom¢ alon¢ would thus exceed oulgoings in the absCe of reseThes and additional fundtai5ing. FUTURE PLANS As indi¢8led above, ¢h8rity is in a period of tronsition due 10 Ihe iinpact ofcovid and the fact that the foundin¥ Trustees have either passcd away or rea¢h¢d an age at which they can no longer drive ihe charity forward. Steps taken io address Ilie siiualion include.. Changes in the cafè. simplifying the menu and ref$hIng Ihe l&yout that have produeed an increase in rn0Ver as & result. Tl)osc changcs havc b¢¢n monitored and have proved successful in increasing incomc. Revivin8 Vlslts froni Schoo youth groups and oih¢r or8anisation$. Holding lectures and meetings for the Friends of VeOod Museum and the public al large. Engagernenl wilh The Museum of Eèst Dor5el, who have carrted out a preliminary review of the ¢olleciion and have providcd advice on what is of hisiorical importance, whal artefact$ may be of less historical importance and how to belter preseNe and present the colleciion. Linking wilh the South Wesi Museuin Development advisory scrvicc whu arc providinLv a plelhorA of adyice and sUprt. ¢ovcring arcas SULh as &iovemance, fundin& staff IrJining and museum r¢gislralion lo name bul a few. - Maintaining a Facebook page lo connect wilh those who use social media. - Working Ihrou8h updates lo the very ouidaied webpage as 8nd when lh¢ necessary infornialion be¢orn¢s available. - Carrying out a programrne of regular repairs and maintenance . STRUCTURE, GOVERNANCE AND MANAGEMENT Governlng dotument The charity 15 controlled by its govemin8 duMent, a deed of lThtst ynd constilules an unincoryornied charily. OrganlBatIoal strueture The Trnstees are well advanced in Ihe pro¢ess of convertin8 the or8anisation from a Trust to a CIO, for the better protcclion and mana8ernenl of the organisation, to refresh the Trnstee body and to improve access to a 8rcaler ran8C ond value of grant fvnding. Cutyently the charity 15 Controlled And managed by the Trustees 8upported by key volunteers and two part time paid gtaff. The part liinc paid staff manage the cafeteria OD site tiob share), which is the ¢harity's prime means of raising funds. They report lo th¢ Treasurer of ihe Friends of the Verwood Museum Trust (FVMD, the voluntary body which supports the Truslees. The Treasur¢r reports to ihe Trnstees. Manageincnt Coinmittcc mcclings are held on a quarfcrly basi4 atte]ed by two Tn1¢¢& th¢ Treasurer and Ihe SecT¢tsry of FVMT and the volunl¢¢r Archivist, which deal with th¢ day lo day business ofthe charity. Two of the TteeS have SilfI¢ll1 prior ond current experience of running Charitable organisations, one as a current CEO of a major national charity and the other as a long temi fornier Trnstee and Chair of Trustees of a mid sized county wide chariry. P&ge 2
V¢rwood Museum Trust R¢port of the Trustees for the Year Ended 31 August 2024 REFERKNCE AND ADMINISTKITIVE DETAILS Reglstered Charlty nllmber 1067952 Prln¢lp¥l 4ddTess Veiwood Heothland Heritage Centre Manor Way venvOl Dorsel BH316HF Tru$te¢$ JEThome C G Thorne G J Thorne MsBAPag¢ Ind¢pendent Ex•mln¢r Ward Goodman Audil Services Ltd 4 Cedar Park Fenthwn Industrial Estate Wimbome Dorsel BH217SF //. a2. 2o3S Approved by order of the board of tNstees on ........ .................................... and $igned on it$ behalf by.. CGTho slee P•8¢ 3
Independeni Ex*miner'$ Report to the Trustees of Verwood Mus¢um Trusl Independent examlner'8 report to ihe trustees of Verwood Museum Trust I report to Ihe charity trnstees on my examination of the accounts of Verwood Museum Tntst (the Tnt) for the year ended 31 Au8usI 2024. Reswtynslbilllles And ba$1$ of report As the charity Iruslees of Ilie TTUSI you are r¢sponsiblc for th¢ prepaTalion of the accounts in accordance wilh the requiremenls of the Charilies Aci 2011 ('the Act), I report in SpeCt of my cxaminalion of Ihc Trust's accoiinLs carried out under Section 145 of Ihe Acl and in carrying out my examination I have followed all applieable Directions given by the Charity Commission under Section 145(5Kb) of Ihe Act. Independent examlner's statemeni I hav¢ rotnpleted my examination. I confirni tl)gt no material matters have come to my attenllon in connection with the examination giving Ine cause to belicvc Ihal iii ai)y muierial respect.. accountin¥ r¢¢ords were nol kepl in respecl of Ihe T$1 as required by Se¢lion 130 of the Act. or the accounts do iiol 4iccord wilh Ihose records. or the accounis do not ¢omply wilh the applicable Tequirements concerning (he fornj and content of accounts set out in the Charitie5 (Aceounls and Reports) Regulations 2008 otlier tli¥n any requirement Ihol Ihe accounts give • iNe and fair vithy whieh is not a maitcr ¢onsid¢red as part of an independerti examinaiion. I havc no conccms and have come across no oiher Ingllcrts in coniieeiion with the examination lo which attention should be drawn in this report in order 10 enAbl¢ a proper understanding of the Accounts to be lehed, l M Rodd Bse FCA FCCA Ward Goodnian Audit Services Ltd 4 Cedar Park F¢mdown Industrial Eslatc Wimborn¢ Dorset BH217SF Pa8e 4
Verwood Museum Trust Statement of Flnanelal Actlvkles for the Year Ended 31 August 2024 2024 Unresiricted funds 2023 Total fullds Notes INCOME AND ENDOWMENTS FROM Donations and legacies 1.826 51,595 other trading activities 52,129 362 TotAI 53,955 51,957 EXPENDITURK ON R8isin8 fvnds 21,852 Charltable Actlvltles Charitsbl¢ A¢liviti¢s 57,255 27,913 Total 57.255 49.765 NET INCOMEI(EXPENDITURE) (3,300) 2,192 RECONCILiATION OF FUNDS Total fiJnd$ broughl fomrd 109,659 107,467 TOTAL FUNDS CARRIED FORWARD 106,359 l(rf).659 The notes fomi part of th¢s¢ financial stal¢m¢nts Pag¢ 5
Verwood Museum Trnst Bglanee Sheet 31 August 2024 2024 Unre51ricted fiinds 2023 Totsl funds Notes CURRENT ASSETS Stocks Debtors Cash ai bank 3iX) 2,054 105,205 370 778 109,891 107,559 111,039 CREDITORS Amounis ftalling due wilhin one year (1,200) (1,380) NET CURRENT ASSETS 106359 109,659 TOTAL ASSETS LESS CVIiRENT LIABILITIES 106,359 109,659 NET ASSETS 106J59 109,659 FUNDS Unr¢slri¢led funds 10 106,359 109.6S9 TOTAL FUNDS 106,359 109.659 The financial sial¢menl$ were approved by the Board of Tnjsiees and authorised for issue on and were signed on ils behalf by; rustee The notes fonn part of these financial SMiemenl8 Page 6
VerwoDd Museum Trust Notes to the Flnanel81 Statements (or thc Ycar Ended 31 Au%ust 2024 ACCOUNTINC POLICIES Ba515 of preparlng the flThan¢lal slatements The financial statemenls of Ilic ¢harity. which is a publie bettefit entiry ui)der FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Aecounting and Reporting by Charili&8: Statement of Recommended Practice applicablc to charities preparing their accounts in accordance with the Financial Rew)rting Standard applicable in the UK aiid Republic of Ireland {FRS 102) {etTe¢tive l Jattuary 2019),, Financial Reportin8 Standard 102 'Thc Financial Reporting Standard applicable in Ihe UK aThJ Republic of Tland, and the Charities Act 2011. The financial staiements have been prepaThl under the historical cost convenlion. Flnanel41 reportlng standard 102- reduced dls¢losure exemplloni Th¢ charity has taken advantage of Ihe following disc105ure exeinption in preparin¥ Ihese financial slalemenis, as pern]itted by FRS 102'The Financial Reporting Siandard &pplicable in the UK and R¢publi¢ of Ireland,: the requirements of Section 7 Sialemenl of Cash Flows. Ineome All income is rewsl$¢d in lh¢ Statement of Financial Activities once the charity has en¢itlemen¢ to the funds, it is pn)bable Ihal the income will be received and the amount can be me&sured r¢liably. Expendlture Liabilities are recognised as exp¢ndilur¢ 0$ $0¢)n as Ihett is a legal or Constrnlve obligation committing the ¢hgrity lo that expenditure, it is pmbable that a transfer of cconomic bcncfits will bc requircd in settlement artd the amount of the obligation can be measurcd reliably. Expcnditurc is accounlcd for on an a¢cruals basis and has been clossifi¢d under headings that aggr¢gat¢ 811 ¢osl related to the ¢ai¢gory. Where costs camKJt be directly attributed lo particular headings they have been allwated to activities on a basis consistent with the use of resourc. Stoeks Stocks are valued at the lower of cost and nel realisable value, after making due allowance for obsolele and slow movin8 items. T4xarfon The charity is exempt from tax on ils charitable activili¢s, Fund afcounllng Unrestricted funds can be used in accord&nce with ihe charithble objeclives at the discretion of th¢ Irusl¢e$. Restricted ndS can onlv be used for particular restricted puryoses within the objects of the ch&rity. Restrictions aris¢ wh¢n sp¢¢ifi¢d by th¢ donor or when fvrtds ar¢ raised for partieular restricted purposes, Further cxplanation of the nature and purp)se of each fvnd is included in the notes to the finan¢ial si&lemenls. Pige 7 ontinued..,
Verw(tyod Museum Trust Notes lo the FlnanelAI Statements- eontlnued for Ihe Year Ended 31 August 2024 OTHER TDING ACTIVITIES 2024 2023 Shop income Bank Inl¢r¢sl Other Income Hall Hirc 49,224 279 928 1.698 362 52.129 362 SUPPORT COSTS The followin¥ support CO8ls w¢r¢ in¢urred in lh¢ year.. 2024 2023 Independent examiner fee5 PayiDII Fees 1,000 326 1.380 1.326 1.380 TRUSTEESI REMUNERATION AND BENEFITS There were no trusiees, remuneration or other benefit5 for the year ended 31 Au8USt 2024 nor ft>r ihc year ended 31 Au8USt 2023. Truste¢$' exp¢ns¢s There w¢r¢ no trusiees, expenses paid for the year ended 31 August 2024 r for the year ended 31 Au8USt 2023. STAFF COSTS 2024 2023 Wage5 and sal8ries 16J80 18,884 16380 18.884 The overage monthly number of employees during the year was as follows: 2024 2023 Employees No employees received emoluments in excess of £60,(KJO. Page 8 Continued...
Verwood Mugeum Trust Notes to the Finan¢iAI Sla(ements- continued for tht Yogr Ended 31 Allgllst 2(J24 COMPA114TIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnJr8lricled fuilds INCOMK AND ENDOWMENTS FROM Donations and legacies 51,595 Oihd. trading activilio8 362 TotAI 51.957 EXPENDITURE ON Raising funds 21,852 Charltabl¢ aellvlrfes Charilable Aclivilies 27,913 Tolgl 49,765 NET INCOME 2.192 RKCONCILIATION OF FUNDS Toial funds broughl forward 107,467 TOTAL FUNDS CARRIED FORWARD 109,659 srocKS 2024 2023 Stocks 300 370 DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Prepymcnts and accrued income 2,054 778 Pa8e 9 continued...
Verwood Mus¢um Trust Notes to the Flnantlal Statements- eonllnued ror the Year Ended 31 Augusl 2024 CREDITORS: AMOUNTS FALLING DUE WITHIN OIYE YEAR 2024 2023 Olh¢r crediiors 1,200 1.380 io. MOVEMENT IN FUNDS Net movement in fvnds At 31.8.24 At1.9,23 Unrestrlcted fund$ Shop fvnd Museum tiind 63,828 45.831 (3,826) 526 60,002 46,357 109,659 (3,300) 106,359 TOTAL FUNDS 109,659 (3,300) 106,359 Nel inovement in fvnds, iiicluded in Il)e abovc are as follows: Incomin8 resourc¢s Resources expended Mov¢m¢nt in fijnds Unrestrlcted fvnd8 Shop fund Museum fid 33,410 545 (57,236) (19) (3,826) 526 53,955 (57,255) (3,3(Ki) TOTAL FUNDS 53,955 (57,255) (3,300) Compara¢lve5 for movement In funds Nel movement in funds Ai 31.8.23 Ai 1.9.22 Unreslrleted (ndS Shop fund Museum fund 59.017 48,450 4,811 (2,619) 63.828 45,831 107,467 2,192 109,659 TOTAL FUNDS 107.467 2,192 109,659 Page 10 continued...
Verw(•od Mus¢um Trust No¢e5 to the Vin*ll¢lal Stat¢ments- eontlnued for the Year Ended 31 August 2024 io. MOVEMENT IN FUNDS- continued Comparative n¢t movemenl in fund& included in the abovc 05 follows: Incoming sources R¢soiirces expended Movemeiil in fund5 Unre$trleted fvnds Shop fund Museum fund 51,595 362 (46,784) (2,981) 4.811 (2,619) 51,957 (49,765) 2.192 TOTAL FUNDS 51.957 (49,765) 2,192 A curr¢nt y¢8r12 months and prior year 12 months combined position is as follows: Net movement in fimds At 31.8.24 At1.9.22 Unre$trl¢ted fvndl Shop fund Museum fund 59,017 48,430 985 (2,093) 60,CK12 46,357 107,467 (1,108) 106,359 TOTAL FUNDS 107.467 (1,108) 106,359 A current year 12 months and prior year 12 mnths Combined nct movement in funds, included in the above art as follows.. Incoming resources Resources expended Movement in funds Unrestwlcted thnd$ Shop fund Museum fund 105,005 907 {104,020) 13.000) 985 (2,093) 105,912 (107,020) (1.108) TOTAL FUNDS 105,912 (107,020) (1,108) Pagell continued...
Verwood Museum Trust Not¢$ to the Flnncl81 Sltcmcn15- eontlnued for the Year Ended 31 August 2024 Al. RELATED PARTY DISCLOSURFS During the period storng¢ fees of £480 (2023: £nil) was paid lo a INslee for Ihe storng¢ of dnen, Page 12